The arrival of Australia’s first Bitcoin ATM is on its final stages with a controversial supporter among one of the importers. According to local reports, Australian Bitcoin ATMs and Krypto Currency Solutions have both confirmed that each will put up one ATM in Sydney’s CBD days from now.
The controversial founder of Australian Bitcoin ATMs is Jamie McIntyre who describes himself as a financial educator from the Gold Coast. He has had encounters with financial regulator ASIC. Mr McIntyre, a controversial figurehead who turned politician, had arranged for ex-governor of California Arnold Schwarzenegger to come to Australia for a motivational speaking tour in 2013.
In 2005, ASIC gave an injunction to Mr McIntyre for arranging and holding live seminars in Australia which gave financial advice on securities. He is scheduled to host the Bitcoin Global Conference in Melbourne on March 28 and 29.
An Australian Bitcoin ATMs representative revealed the first Bitcoin ATMM will be installed in Sydney’s Pitt Street Mall before March ends. According to Robert Masters, CEO of Kyrpto Currency Solutions, their first Bitcoin machine will be operational in the coming weeks.
Australian Bitcoin ATMs is working with suppliers in Canada and Israel for its plans to launch Bitcoin ATMs worldwide. The company is planning to roll out 100 Bitcoin ATMs in Australia.
Robocoin, the company behind Bitcoin ATMs, is planning to expand to 10 more locations around the world. The company has announced it will be shipping its Bitcoin ATMs to Boston and Seattle in the United States. More machines are heading to the UK, Australia, Italy, Ireland, Israel, Czech Republic, Japan and Singapore.
In February, Robocoin installed its first Bitcoin ATM in the U.S. at the HandleBar tavern in Austin. The company's first ever Bitcoin ATM was placed in Vancouver on Oct 13 with Hong Kong and Taiwan following in January 2014.
The Bitcoin ATMs work by connecting to an international Bitcoin exchange and processes the transaction on their behalf. The ATM will release the cash once the Bitcoin exchange is successful. Those who want to buy Bitcoin can simply do so using the ATM and pay in cash.